Opinicus Capital Inc. Makes New Investment in Apple Inc. (NASDAQ:AAPL)

Opinicus Capital Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 44,322 shares of the iPhone maker’s stock, valued at approximately $8,533,000. Apple accounts for 8.7% of Opinicus Capital Inc.’s investment portfolio, making the stock its largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Morgan Stanley raised its position in shares of Apple by 1.0% during the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after purchasing an additional 2,018,010 shares during the period. International Assets Investment Management LLC lifted its position in shares of Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares in the last quarter. Barclays PLC boosted its stake in shares of Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. California Public Employees Retirement System grew its position in shares of Apple by 4.6% during the third quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock worth $6,605,195,000 after purchasing an additional 1,696,576 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Apple by 1.7% during the 3rd quarter. Nordea Investment Management AB now owns 17,519,918 shares of the iPhone maker’s stock valued at $3,020,609,000 after purchasing an additional 287,329 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders sold 271,270 shares of company stock worth $46,511,696 in the last quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AAPL shares. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a report on Monday, April 29th. Maxim Group initiated coverage on Apple in a research report on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price for the company. Loop Capital lowered their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $162.00 to $188.00 in a report on Friday, May 3rd. Finally, The Goldman Sachs Group raised their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.59.

Get Our Latest Report on AAPL

Apple Trading Up 0.5 %

NASDAQ:AAPL opened at $191.29 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The business has a fifty day moving average of $177.13 and a 200-day moving average of $183.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a market cap of $2.93 trillion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.32 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period last year, the company posted $1.52 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is currently 15.55%.

About Apple

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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